NGOs can now have PR schools and colleges on April 13, 2017KARACHI: The Pakistan Railways (PR) has decided to transfer the management of railway schools and colleges to NGOs. In this regard, the PR has invited Expression of Interest (EOIs) from reputed NGOs and CSOs offering nine schools and colleges which are PR Boys High School Engine Shed and PR Axis College for Boys Lahore, PR […]
PTA to issue TPSP licences for mobile/branchless banking on April 6, 2017KARACHI: Eventually, the Pakistan Telecommunication Authority (PTA) has decided to grant the licenses to private parties with the mandate to establish maintain and operate telecom system as Third Party Service Provider (TPSP) for financial and application services across Pakistan. TPSP license will permit the licensee to provide technical services for channelling, routing, and switching transactions […]
DRAP to introduce pricing formula for cardiac stents on April 5, 2017KARACHI: Following the Supreme Court (SC)’s orders to devise a pricing policy for stents, the Drug Regulatory Authority of Pakistan (DRAP) has invited an expression of interest (EOI) for consultancy services to develop a pricing mechanism. The DRAP is in the process of framing a mechanism for price fixation of cardiac stents, defibrillators, pacemakers, prosthetic […]
SBP forecasts higher GDP growth in FY17 on April 1, 2017KARACHI: The State Bank of Pakistan (SBP) on Friday said that the real Gross Domestic Product (GDP) growth in fiscal year 2016-17 (FY17) is expected to be higher than the last year owing to rebound in agriculture and increased pace of work on infrastructure and energy projects. According to the second quarterly report released by […]
PR shelves cargo-handling project worth billions of rupees on March 30, 2017KARACHI: Multi-billion rupees cargo-handling Track Access Project has been shelved by ailing Pakistan Railways (PR) without any obvious reason while the contractor has obtained a stay order from the Sindh High Court (SHC), Daily Times has learnt. In 2013, a private company Fast Track Silverlink Ltd was granted a Track Access Project by PR on […]
Banks to provide funding to investors through brokers on March 30, 2017KARACHI: The Securities and Exchange Commission of Pakistan (SECP) on Wednesday approved recommendations of the committee on review of financing by securities brokers to clients. The SECP had constituted a committee comprised of senior market professionals and stakeholders. It was mandated to review the matter of in-house financing, identification of any issues, inefficiencies or hurdles […]
Pakistan to auction leftover 3G/4G spectrum by June on March 29, 2017KARACHI: The Pakistan Telecommunication Authority (PTA) on Tuesday has issued the policy directive for the auction of unsold next generation mobile services (NGMS) spectrum with a base price of $295 million. On the recommendation of the advisory committee that was constituted by the Prime Minister, the federal government has issued directives for compliance to PTA […]
Nepra seeks views on induction of CPEC security cost in tarrif on March 21, 2017KARACHI: The National Electric Power Regulatory Authority (Nepra) has sought views from the general public and stakeholders over the government’s decision to induct security costs of $150,000 for the China-Pakistan Economic Corridor (CPEC) projects in power tariffs. Nepra has decided to initiate a suo moto review proceeding seeking views from any interested person and stakeholders […]
SECP advises State Life to improve its governance on March 10, 2017KARACHI: In a case of Rs 836 million fraud, the Securities and Exchange Commission of Pakistan (SECP)’s Insurance Division has advised the State Life Insurance Corporation (SLIC) to improve its governance system by putting in appropriate internal control systems. The SECP’s Insurance Division had initiated proceedings against SLIC and its Directors for failing to maintain […]
Federal govt to conduct audit of recruitment process of 98,378 posts on February 28, 2017KARACHI: The government of Pakistan has decided to carry out an audit of the selection process that has been carried out by ministries and their departments for recruitment for a total 98,378 posts. In this regard, the Prime Minister’s Office (PMO) has invited proposals from qualified and experienced consulting firms to carry out an audit […]